Why Would Lender Stay Sherriff Sale
My property was scheduled to be sold at a sherriff sale in November, but the attorneys for the mortgage company stayed it for reasons unknown to me. Can anyone tell me why a lender would do such a thing?
Maybe they had a scheduling conflict and the person they were going to send to the sheriff's sale on their behalf couldn't make it on the scheduled date. Or, maybe some other reason. If it's an FHA or VA insured/guaranteed mortgage, the lender doesn't care when it sells because they're going to get all of their money back plus costs regardless. That's often why they don't want to make any deals with you, or even sell the property to someone else, before the sale.
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